Money That Has No Value Other Than as Money Is

question 5

Multiple Choice

Money that has no value other than as money is called ______ money.

• A) fiat
• B) intrinsic
• C) commodity
• D) government

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Definitions:

Collectivism

Putting group goals ahead of personal goals and defining one’s identity in terms of the groups to which one belongs.

Individualism

Putting personal goals ahead of group goals and defining one’s identity in terms of personal attributes rather than group memberships.

Graduate School

Graduate school is an advanced program of study focused on a particular academic discipline or profession, typically following the completion of an undergraduate degree.

Individualistic Culture

describes a society that values individual rights and independence, emphasizing personal achievements and self-reliance over collective goals.